Retirement

Recent mega-settlements involving 401(k) lawsuits, along with a U.S. Supreme Court ruling last year that put plan fiduciaries
on high alert about the need to continuously monitor plan investments, has encouraged more law firms to develop and expand
their fiduciary litigation practices.

A wife will get around $116,000 more in a divorce settlement after the Indiana Court of Appeals found the trial court erred
in applying the coverture fraction formula to the husband’s retirement accounts.

Ruling on an issue barely touched upon in a previous decision, the Indiana Court of Appeals determined that a survivor benefit
plan of a military pension should have been included in the marital pot when calculating asset distribution in a divorce.

Since the Probate Code Study Commission was eliminated as part of a 2014 law that reduced the number of interim study committees,
certain legislators and attorneys have mounted an effort to get the commission reinstated.

An ex-husband who a trial court determined is owed $76,173 from his wife’s teacher retirement benefits was wrongly denied
an opportunity to argue the arrearage can be pursued through contempt, the Indiana Court of Appeals ruled Monday.

A man challenging the proposed value of his pension’s surviving spouse benefit in a dissolution proceeding had to file
his own Ind. Trial Rule 60(B) motion and not rely on the same motion filed by his ex-wife, the Indiana Court of Appeals held
Thursday.

The Supreme Court of the United States unanimously held Thursday that funds contained in an inherited individual retirement
account do not qualify as “retirement funds” within the meaning of a bankruptcy exemption.

In agreeing to hear an appeal on the question of whether retirement funds remain retirement funds after they are inherited,
the Supreme Court of the United States seems to be acknowledging that what is today a rare question could arise more often
as the population ages and more parents leave money to their children.

In the House of Representatives, a bill that would change features of the Prosecuting Attorneys Retirement Fund is eligible
for a third reading vote. In the Senate, a bill calling for a study of judges’ pensions is ready for second reading
Monday as well.

The Indiana Supreme Court will consider a certified question from federal court concerning disability pension funds for police
and firefighters who are already eligible and receiving benefits governed by Indiana statute.

The 7th Circuit Court of Appeals has upheld a $180 million settlement and grant of $43.5 million in attorney fees in a dispute
between retirement plan participants and their former employer. Some class members objected to the amount of attorney fees,
but the 7th Circuit saw no reason to disturb the lower court’s decision.